Telenor looking to start payments bank this year - Feedback

Norwegian telecom operator Telenor is looking to commence operations of its payments bank JV in India this year and will roll out some basic services like bill payments a bit earlier.

“What we are looking at, we might go out bit sooner with some activities but the full bank…we need to have the systems platform reviewed by RBI, so I would say that we would be very happy if we launch this in 2016,” Telenor Group SVP and Head of Financial Services, Tine Wollebekk, told PTI during the Mobile World Congress held here from February 22-25. Telenor, along with Dilip Shanghvi of Sun Pharmaceuticals and IDFC, had earlier received RBI’s approval to set up the payments bank.

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